Institute of Professional Studies (Ips), Legion

UNIVERISTY OF PROFESSIONAL STUDIES, ACCRA (UPSA) UNDERGRADUATE PROGRAMMES MAINSTREAM/WEEKEND

COURSE OUTLINE

Course: PBBS 206 Economy of Ghana Semester: Second Semester, 2013/2014 Academic year Level: Undergraduate, Level 200 Lecturers: Dr. Raymond Dziwornu, Mr. Michael Insaidoo, Mr. Mawunyo Agradi, Mr. Samuel Tuffour and Mr. Maxwell Della Gakpo Lecture Day: Tuesdays and Saturdays (7:20 – 10:20 am)

Attendance Hundred percent (100%) class attendance is mandatory for all students to enable them appear in the final examination. However, in case of an emergency or serious illness the students will be eligible to three (03) absences during the whole semester.

Rules and Regulations 1. All mobile phones must remain switched off or kept on silent mode for the entire duration of the lecture. Any breach of this rule will lead to immediate confiscation of the mobile phone, which will only be returned to the student after the semester is over. 2. Eating in class while lecture is in session or progress will not be allowed or permitted. 3. All students are required to be dressed in a decent and appropriate manner. Please note that under no circumstances will you be allowed to attend lecturers in inappropriate dress. 4. Lateness to class will not be tolerated. 5. Offensive language and disruptive behavior in class will not be permitted and will be addressed accordingly to misconduct policies in the University’s Students’ Handbook. 6. Students should make sure that all submitted work is their own. Plagiarism is a form of dishonest practice. Any student found engaging in plagiarism in any piece of work submitted for assessment shall be handled according to the University's dishonest practice policies.

UPSA/DZIRAY/ECO GHANA/2014 Page 1 Course Description The course seeks to introduce students to developments of Ghana’s economy in the pre and post independence period. It is designed to cover policies and macroeconomic developments such as output, inflation, agriculture, industry, service as well as development programmes. Topics include the real sector, monetary/financial sector, external sector and the fiscal sector. The course seeks to equip students with some knowledge of the Ghanaian economy; evaluate economic policies and their effects on individuals, businesses and the economy as a whole.

Aims and objectives The primary goal of this course is to equip students with some knowledge of the Ghanaian economy in order to discuss and analyze issues pertaining to it. Specifically to:  Describe the economic history of Ghana from the pre to post independence era.  Describe the economic performance of the Ghanaian economy.  Identify and explain the factors hindering Ghana’s economic development.  Describe the composition and structure of Ghana’s economic growth.  Identify the characteristics of Ghana’s labour market.  Explain how government finances its budget deficit  Describe the composition and structure of Ghana’s external trade.  Explain factors preventing government from achieving its inflation target.  Assess economic policies impact on household, businesses and economy as a whole.  Outline policy options for enhancing Ghana’s economic development.

Learning Outcomes: By the end of the course, students should:  Describe the economic history of Ghana from the pre to post independence era  Discuss the factors hindering Ghana’s economic development.  Describe the composition and structure of Ghana’s economic growth over the years  Analyze the impact of economic policies on household, businesses and the economy  Identify measures to enhance the growth of the various sectors of Ghana’s economy.  Discuss reasons for government inability to achieve their inflation targets.  Contribute effectively to national debate on economic policies of government.

UPSA/DZIRAY/ECO GHANA/2014 Page 2 Teaching Methodology  Lectures  Term paper/Assignments  Presentation and peer review

Performance Requirements Performance of students requires complying with the course requirements with active class participation and timely submission of assignments.

Evaluation Methods and Assignment  Assignments  Presentations and peer reviews  Class attendance and participation  Final Examination  Term paper: Students will be assigned in groups to write term paper.

Grading Group presentations 15% Term paper/Report 20% Final Examination (Two and half hour paper) 65% Total 100%

Course Content 1. Course overview: Description, Objective, Outcome and expectation Week 1 2. Brief economic history of Ghana from the pre to post independence era. Week 2 3. Real/Domestic Sector: features, sub-sectors, contributions, challenges Week 3-5  Agriculture sector  Industrial sector  Service sector 4. Labour Market Issues in Ghana: characteristics and unemployment Week 6 5. External Sector: composition and direction of trade, and Trade Balance Week 7  Economic Partnership Agreement (EPA)

UPSA/DZIRAY/ECO GHANA/2014 Page 3 6. Fiscal Sector: Budget: Revenue and Expenditure, Budget deficit Week 8-9 o Development Frameworks: GPRS I and II, GSGDA 7. Monetary/Financial Sector: Banking, Non-Banking Institutions and inflation. Week 9-10 8. Group presentation of Term paper Week 11-13

Suggested References

1. The State of the Ghanaian Economy (various issues), ISSER,UG-Legon 2. Aryeetey E. and A.K. Fosu, Economic Growth in Ghana: 1960 -2000, AERC Growth Project 3. Ghana Shared Growth and Development Agenda (GSGDA), 2010 - 2013 4. Various Publications of Bank of Ghana Annual Reports, Quarterly Bulletin, Monthly Reports, statistical Bulletin and Monetary Policy Committee Reports. 5. Quarterly Digest of Statistics, the Statistical Service publication (various issues) 6. Tony Killick, Development Economics in Action, Second Edition 7. Bank of Ghana Act 8. Baumiah M. (2010), Monetary Policy and Financial Sector Reform in Africa, Ghana’s Experience, 9. Aryeetey E., Nissanke M. and Harrigan J. (2000). Economic Reforms in Ghana, The Miracle and The Mirage, First Africa World Press Inc. 10. Other relevant publications on the Ghanaian Economy

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